What if everything you learned about getting rich was wrong?
With all the great wealth that has disappeared over the last few years, something has to be wrong. Remember when President Bush wanted to take the social security accounts we all have and transfer the money into individual stock accounts and we all screamed no!no!, and that idea died a lonely death. Why? Because the fear was that the market would crash and we would be left with nothing.
Well, somewhere along the road to retirement, it happened. The market crashed. Many people are left with little or nothing in their 401K accounts, banks began closing, stress tests, bailouts, and whatever else you can think of.
CNBC is probably the biggest problem child of this ordeal. They have been around for now over 20 years. What is their main purpose in life?
They sell swamp land. Snake oil. Lucky charms. Dreams. That you may be rich and famous. Or rich. Or do better than your parents.
Wall Street is a sleight of hand, 3 card monte, pick a card any card magic shop. They can make your money disappear. All wealth is an illusion. Anything you have is worth what someone will give you for it.
Want proof? Have a garage sale, buy something on E Bay. There will be a consensus on the worth of any product. Sometimes dishearteningly so.
We are all guilty of trying to build wealth quickly. Not like our parents, who had no choice to do it slowly.
Ever watch a school of fish on a nature channel show ? They dart back and forth in perfect unison, unsure where they are going but anxious to get there with the others.
I don't have the answer, sorry. But I know it is not what they told you.
1 comment:
I have always thought that shares and similar things are far too unstable to put money into. I am old fashioned, bricks and mortar are my idea of ideal collataral and that is only after you have paid off your own mortgage pretty much.
I know people who have next to nothing left after the recent economic problem - they took loans out to buy shares! Caught up with the get rich quick scheme. Sunk all their money into promises.
And, can "they" stop selling this idea that you need to be so rich in your old age. Loaded to the hilt. Honestly, from what I have seen, the most important thing to consider about getting older is your health. How about if people made as big an effort being healthy as they did to be rich, that would be a better prospect.
Slow and steady is my motto. Take your time, save your pennies, invest carefull in property if you can and don't over extend yourself ever.
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